Stablecoin Supply Sets New All-Time High on 26 February 2026 as Bitcoin Faces Pressure from Exchange Outflows

On 26 February 2026, global stablecoin supply reached a fresh all-time high, with roughly 99% of the market still denominated in USD. Non-USD tokens tied to currencies like the euro, ruble, and several emerging market fiats have been expanding, yet exchange net flows remain negative and nearly $10 billion has left trading platforms in recent weeks. This divergence suggests substantial liquidity exists in stablecoins, but it has not yet returned to centralized exchanges to support a sustained Bitcoin uptrend.